Moody's rates Mediacom Broadband bonds B3

Moody's Investors Service said it assigned a B3 rating to the $300 million proposed senior unsecured bonds of Mediacom Broadband.

The company expects to use proceeds primarily to fund a tender for a portion of Broadband's 8½% senior unsecured bonds maturing October 2015.

Moody's said it considers the transaction an opportunistic extension of the maturity profile, which could reduce interest expense.

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